After the confluence of a falling wedge (blue lines) with an Inverted Head & Shoulders (red line is neck), forming over more than half a year, we got an impressive breakout setting the path for the upcoming months. After a few days of accumulation, we went for the first test of the $9,200-$9,000 range, to slightly correct after testing a local horizontal support...
The next two weeks will be key to see if Bitcoins goes for a retest of the channel resistance or visit new lower lows endangering the $3,000 support. Falling wedge squeeze continues getting closer to decision point while matching with a potential double bottom based on the local lows of mid December. Volume reaching historic lows and sunk in the downtrend. A...
Big Caps Index | Looking great here: - Breakout of the falling wedge. - Retesting the resistance as support successfully. - Potential Inverted Head & Shoulders on the making. Indexed: $ETH, $XRP, $EOS, $LTC, $IOT and $XMR. #CryptoCurrencies #Blockchain #Bitcoin
- Falling wedge squeezing. - Potential fractal on play. - Major horizontal support. - WT and RSI full bottomed. - TDI bounce on support.